Funding sources for Premium Financed Life... Who do you use?

fjman · 09-02-2008, 06:51 PM

With a monster thread on Premium Financing here in the Life forum, my question is who do you look to for financing premiums? Lets aviod debating our opinions on PF and leave that for the other thread!

Also, Is it easier to fund when using a ROP UL with enhanced CV (no surrender charges and 80-100% CV first year)? Who funds on a longer term basis? 10+ years ideally?

Never completed one of these transactions but really want to move into this market. I'd like to be ready when a life settlement client wants more insurance after the sale. Thanks

lifesettlementadvisor · 09-03-2008, 04:06 PM

I work with 12 different premium financing lenders.
Many of them have 10 year or life time loan programs.

Would be happy to look over your case.

R. Paul Aguirre · 09-03-2008, 04:49 PM

Sorry I didn't read the other thread but just make sure that the PF company that you use is accepted by the carrier that you are using.

We had a couple hundred cases approved by the PF company only to find out that we had about a month left to get them all approved and funded because the carrier decided to stop doing business with our PF company.

Some tears were shed over that one.